Willis Towers Watson completes broker acquisition

UK insurance giant buys century-old broker to become expected market leader

Willis Towers Watson completes broker acquisition

Insurance News

By Louie Bacani

After just over a week of negotiations, broking giant Willis Towers Watson has completed the acquisition of top French aviation brokerage OAAGC.

Willis Towers Watson did not disclose the terms of the transaction, which is expected to make the British firm the leading aviation broker in France.

The acquisition transfers OAAGC’s book of business and its entire team to Willis Towers Watson, which also operates in France as Gras Savoye. 

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Following the completed deal, OAAGC clients can now benefit from Willis Towers Watson’s full suite of people and risk solutions. The existing customer base will continue to be serviced by the same experts. 

Founded in 1898, the Paris-based business has a team of 16 people dedicated to aviation insurance solutions. They are now part of the global aerospace team of Willis Towers Watson.

OAAGC has enjoyed a strong relationship with Willis Towers Watson through its links with the latter’s aviation team and through a partnership with Gras Savoye.

Gras Savoye, which owned 40% of OAAGC, was acquired by Willis in December 2015 before the merger with Towers Watson in January 2016.


Related stories:
Willis Towers Watson to acquire French broker OAAGC
Willis Towers Watson warns on discount rate change impact
 

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